521 E 1st St · Lexington, NC 27292

$119,000

3 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 116 Days on market

Built 1900 9,365 sqft lot Est $183k · 35% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.7/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Built in 1900, this charming 2-bedroom, 1-bath home offers historic character with room to make it your own. Recently refreshed with selective painting and floor improvements, the interior feels bright and inviting while still leaving space for thoughtful updates and personal touches. Tucked at the end of a quiet dead-end street, the setting offers reduced through traffic and a peaceful atmosphere while remaining convenient to everyday amenities. Whether you appreciate the craftsmanship of an early 20th-century home, are searching for a first home with personality, value privacy in a low-traffic setting, or see long-term hold potential, this property provides flexibility, character, and opp

Key facts

• Low-traffic setting
• Floor improvements
• Historic character

Tags

• HISTORIC CHARACTER
• FLOOR IMPROVEMENTS
• QUIET DEAD-END STREET
• REDUCED THROUGH TRAFFIC
• EARLY 20TH-CENTURY HOME
• LOW-TRAFFIC SETTING

Property features AI

Finance

• Other: Lot approximately 0.215 acre
• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: Public sewer; Electric water heater
• Home design: Residential stick/site-built house; One story; Built in 1900
• Construction: Vinyl siding; Wood siding; Crawl space foundation
• Exterior features: Public-maintained road; Public water

Interior

• Kitchen: Free-standing range; Cooktop
• Bedrooms: Primary on main
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric baseboard heat; Window air conditioning units
• Interior features: Primary bedroom located on the main level
• Laundry & utility: Washer hookup; Dryer connection; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $108k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.5% in Lexington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#89 in NC) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D, crime F, amenities D-.
• Lexington City Schools (suburban): math 32% / reading 38% proficiency, ranked #136 of 178 in NC (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.4%/yr); 404 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 990 units permitted in Davidson County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Davidson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $119k implies a 892% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.23%
• DSCR: 1.41
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $182,628
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 E 1st St	0.03mi	2/1.0 (-1)	960 (-6%)	15mo	$116,000	$121	71
198 Raeford Ave	0.56mi	3/1.0	1,018 (-1%)	4mo	$165,900	$163	69
403 Rosewood Dr	0.52mi	3/1.0	1,008 (-2%)	11mo	$179,000	$178	64
608 Carver Dr	0.66mi	3/1.0	1,064 (+4%)	0mo	$195,000	$183	63
504 Tussey St	0.53mi	2/1.0 (-1)	900 (-12%)	1mo	$79,000	$88	49
502 Tussey St	0.52mi	2/1.0 (-1)	900 (-12%)	2mo	$87,000	$97	48
109 Druid Hills Dr	0.71mi	3/1.5	1,064 (+4%)	13mo	$214,900	$202	48
305 E 2nd St	0.35mi	2/1.0 (-1)	896 (-13%)	13mo	$69,000	$77	46
1007 Thomason St	0.50mi	3/2.0	952 (-7%)	18mo	$200,000	$210	45
401 Woodsway Dr	0.68mi	2/1.0 (-1)	947 (-8%)	12mo	$175,000	$185	41
433 N State St	0.75mi	2/1.0 (-1)	928 (-10%)	6mo	$102,500	$110	39
404 Carolina Ave	0.66mi	2/2.0 (-1)	889 (-13%)	14mo	$200,000	$225	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.37% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-5,046
• Equity at exit: $17,743

10-year hold

• IRR: 3.7%
• Equity multiple: 1.25×
• Total profit: $8,346
• Equity at exit: $10,289

Cash invested: $33,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 27292

• Home prices YoY: -22.1%
• Rents YoY: 1.4%
• Active inventory: 404
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,276 high
• Mortgage (P&I): −$624
• Tax from tax record: −$78 /mo · $936/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $256

Break-even live

Break-even rent $951

Max offer price $119,000

Occupancy floor 75%

Sensitivity live

Price	-10% $324	-5% $290	+0% $256	+5% $223	+10% $189
Rent	-10% $155	-5% $206	+0% $256	+5% $307	+10% $357
Rate	-1.0pp $316	-0.5pp $287	base $256	+0.5pp $225	+1.0pp $194

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 London Ct Lexington, NC	1.0–4.0	1.0–1.5	875	$1,457	$1.66	15d	1	0.45mi
175 Young Dr Lexington, NC	2.0	1.0	800	$900	$1.12	15d	1	0.49mi
1115 Thomason St Unit D Lexington, NC	2.0	1.0	850	$1,100	$1.29	24d	1	0.53mi
1115 Thomason St Unit C Lexington, NC	2.0	1.0	850	$1,200	$1.41	15d	1	0.53mi
215 Agner Ln Lexington, NC	3.0	2.0	1150	$1,595	$1.39	22d	1	0.78mi
420 Salem St Unit H Lexington, NC	2.0	1.5	1100	$875	$0.80	20d	1	1.04mi
812 Fairview Dr Apt 450A Lexington, NC	2.0	1.5	976	$1,450	$1.49	24d	1	1.06mi
812 Fairview Dr Apt 200D Lexington, NC	2.0	1.5	976	$1,249	$1.28	22d	1	1.06mi
519 Leonford St Lexington, NC	2.0	1.0	867	$1,000	$1.15	24d	1	1.11mi
9 Robbins Cir Lexington, NC	2.0	1.0	800	$1,150	$1.44	15d	1	1.15mi

Listing history 21 events

1. 2026-06-21
   days on market $119,000 Active 116 DOM
2. 2026-06-18
   days on market $119,000 Active 113 DOM
3. 2026-06-17
   days on market $119,000 Active 112 DOM
4. 2026-06-16
   days on market $119,000 Active 111 DOM
5. 2026-06-15
   days on market $119,000 Active 110 DOM
6. 2026-06-14
   pricedays on market $119,000 Active 108 DOM
7. 2026-06-10
   days on market $129,000 Active 105 DOM
8. 2026-06-09
   days on market $129,000 Active 104 DOM
9. 2026-06-08
   days on market $129,000 Active 103 DOM
10. 2026-06-07
    days on market $129,000 Active 102 DOM
11. 2026-06-05
    days on market $129,000 Active 99 DOM
12. 2026-06-03
    days on market $129,000 Active 98 DOM
13. 2026-06-02
    days on market $129,000 Active 97 DOM
14. 2026-06-01
    days on market $129,000 Active 96 DOM
15. 2026-05-31
    days on market $129,000 Active 95 DOM
16. 2026-05-31
    days on market $129,000 Active 94 DOM
17. 2026-04-28
    price $129,000
18. 2026-02-25
    listed $135,000 Active
19. 2026-01-08
    price $127,400
20. 2025-11-06
    price $129,900
21. 1992-05-01
    soldstatus $12,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $936 · $78/mo
• Projected year-2 tax: $976 · $81/mo
• Expected delta: +$39/yr (+$3/mo · 4.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,310
• − Mortgage interest: −$6,666
• − Property taxes: −$936
• − Insurance: −$595
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$3,462
• Taxable income: $1,201
• Est. tax owed @ 24.0%: −$288
• After-tax cash flow: $2,787/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lexington City Schools
• NCES district ID: 3702640
• Math proficiency: 32% ▲ 3.00%
• Reading proficiency: 38% ▲ 6.00%
• Median HH income: $27,758
• Composite: 28.2/100
• National rank: #6807
• State rank: #136 of 178 in NC

Livability — Lexington

• Score: 72/100
• State rank: #89
• US rank: #6051

Category grades

Amenities D- Commute A+ Cost of living A+ Crime F Employment F Housing B+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lexington, NC
• County: Davidson County · 129,088 people
• City population: 79,578
• Metro: Winston-Salem, NC
• Population (ZIP): 40,311
• Household income: $57,264
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 1001.0

Population outlook (Davidson County) Hauer SSP2

• Today (2025): 167,156 people
• By 2030: 167,216 · +0.0%
• By 2040: 164,524 · -1.6%
• By 2050: 157,229 · -5.9%
• By 2075: 138,084 · -17.4%
• By 2100: 112,729 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 13% Two or more races 9% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 1% Slovak 1% Serbian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Davidson

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.1%
• 2008→2024 swing: -13.5pp toward R · 2008: -33.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+47.5 2016: R+49.4 2012: R+40.9 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.79%
• Current HPI: 267.074
• Rent YoY: ▲ 1.37%
• Metro: Winston-Salem, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+975.0% since first listed

5 events — show timeline

• 2026-04-28 Price Changed $129,000 Triad MLS
• 2026-02-25 Listed $135,000 Triad MLS
• 2026-01-08 Price Changed $127,400 Triad MLS
• 2025-11-06 Price Changed $129,900 Triad MLS
• 1992-05-01 Sold (Public Records) $12,000 Public Records

Property tax history

+9.7%/yr

Latest (2025): $936 · +0.0% YoY. Source: county tax records.